Bank of America cut shares of Louisiana-Pacific (NYSE:LPX – Get Rating) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $56.00 price objective on the building manufacturing company’s stock, down from their previous price objective of $64.00.
A number of other equities research analysts also recently weighed in on the company. TD Securities dropped their target price on Louisiana-Pacific from $80.00 to $75.00 and set a buy rating for the company in a report on Wednesday, August 10th. Truist Financial started coverage on Louisiana-Pacific in a research note on Wednesday, June 29th. They issued a hold rating and a $57.00 price target for the company. DA Davidson lifted their target price on Louisiana-Pacific to $70.00 in a research report on Monday, August 15th. Finally, The Goldman Sachs Group reduced their price target on Louisiana-Pacific from $90.00 to $65.00 and set a neutral rating on the stock in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $67.50.
Louisiana-Pacific Stock Performance
Louisiana-Pacific stock opened at $52.44 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 1.94 and a debt-to-equity ratio of 0.23. Louisiana-Pacific has a 1 year low of $49.98 and a 1 year high of $79.77. The company has a market cap of $3.87 billion, a PE ratio of 3.20 and a beta of 1.68. The company’s 50-day moving average is $57.90 and its two-hundred day moving average is $61.83.
Louisiana-Pacific Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. Louisiana-Pacific’s payout ratio is currently 5.37%.
Hedge Funds Weigh In On Louisiana-Pacific
Several institutional investors have recently modified their holdings of the company. Altman Advisors Inc. grew its position in shares of Louisiana-Pacific by 0.9% in the 1st quarter. Altman Advisors Inc. now owns 19,231 shares of the building manufacturing company’s stock worth $1,195,000 after buying an additional 163 shares during the last quarter. CAPROCK Group Inc. raised its stake in Louisiana-Pacific by 5.2% during the first quarter. CAPROCK Group Inc. now owns 4,073 shares of the building manufacturing company’s stock valued at $253,000 after buying an additional 200 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Louisiana-Pacific by 2.5% in the first quarter. Captrust Financial Advisors now owns 9,020 shares of the building manufacturing company’s stock worth $560,000 after purchasing an additional 220 shares during the last quarter. Astrantus Ltd raised its stake in shares of Louisiana-Pacific by 6.2% in the first quarter. Astrantus Ltd now owns 4,100 shares of the building manufacturing company’s stock worth $255,000 after purchasing an additional 238 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its stake in shares of Louisiana-Pacific by 8.6% in the first quarter. First Republic Investment Management Inc. now owns 3,514 shares of the building manufacturing company’s stock worth $218,000 after purchasing an additional 278 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.
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